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Feb 12, 2013
02/13
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that results in a lower deficit as you have reported to us. by 2015, the deficit is projected to be $430 billion, the lowest you project over 10 years. that's slightly below the highest deficit president bush ever had in his eight years. and you have gpped growth projected at 3.%, last year was 2.2. but after 2015, three years from now, the deficits start a rise again, increasing every single year almost 10% a year and would more than double over the following eight years to $978 billion, is that correct? >> yes, that's right. >> and you don't see unless something changes, any improvement in the outyears but your report would indicate that your report the upward trajectory -- and is that an unsustainable path? >> as others have said, debt cannot rise indefinitely as a share of g.d.p. and our projections show debt rising relative to g.d.p. in the back half of this coming decade. >> so i think -- and it increases the risk as bowles and simple son told us was inevitable if we don't change this unsustainable path, would you agree? >> in the longer
that results in a lower deficit as you have reported to us. by 2015, the deficit is projected to be $430 billion, the lowest you project over 10 years. that's slightly below the highest deficit president bush ever had in his eight years. and you have gpped growth projected at 3.%, last year was 2.2. but after 2015, three years from now, the deficits start a rise again, increasing every single year almost 10% a year and would more than double over the following eight years to $978 billion, is...
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Mar 23, 2013
03/13
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guest: republicans were hitting deficit spending that the budget that the cr isn't addressing the deficit problem. you put two words on a credit card and didn't pay for them and that's why we have deficit. the war funding is an interesting element. it was a fight between democrats and republicans. democrats cut spending. how they arrived at savings in their bument and republicans said those numbers aren't realistic. host: trnt republicans say thrg have been increases in spending by the obama administration at pushed the debt from five or six years ago guest: how much debt there was when president obama came to office and how much debt there is now. that is the consistent argument it's getting worse. when you compare the ryan budget to the senate democrats budget there is a different pace of spending, both of them increase spending over time but the democrats by a lot more. host: go ahead bob. caller: we won't really know what's in this thing until the cover is pulled off. we can't trust the media to tell us the truth. and you should really when you have politico on, you should mention if
guest: republicans were hitting deficit spending that the budget that the cr isn't addressing the deficit problem. you put two words on a credit card and didn't pay for them and that's why we have deficit. the war funding is an interesting element. it was a fight between democrats and republicans. democrats cut spending. how they arrived at savings in their bument and republicans said those numbers aren't realistic. host: trnt republicans say thrg have been increases in spending by the obama...
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Apr 9, 2013
04/13
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if you take a balanced approach to deficit reduction. you do not need to do what the house republican budget does, which is -- institute deep, deep cuts and investments that will help our economy grow in the future and building our roads and bridges and airports and schools, investing in innovation and job training and other aspects of our economy that help the american people take the job that will be available in this 21st century economy. nstead they cut these programs dramatically. they block grant medicaid leaving families who have kids with disabilities in the lurch. they voacherize medicare and shift costs. the president is interested in reducing the costs of health care because it drives our debt and deficit challenges. that is one of the aspects of the affordable care act that is often underreported that it addresses the costs, long-term, of health care. and the president is interested in that and has taken action on that and will continue to take action on that. he is not interested in the proposition that we should just dump c
if you take a balanced approach to deficit reduction. you do not need to do what the house republican budget does, which is -- institute deep, deep cuts and investments that will help our economy grow in the future and building our roads and bridges and airports and schools, investing in innovation and job training and other aspects of our economy that help the american people take the job that will be available in this 21st century economy. nstead they cut these programs dramatically. they...
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May 24, 2013
05/13
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we also have the burden on our children for a deficit. this includes interest rate savings for students and parents between 2013 and 2018 to be able to have $30 billion of savings and at least a billion dollars that was passed with this committee recently. >> it is a long-term fix. i want to take on tough issues, and moved to all the other issues. i don't want to come back year after year on the same stock. >> i would hope that we would keep that 3.4% rate for the subsidized stafford loans. >> please explain the importance of this process. >> yes, sir. i think it is an extraordinarily important opportunity, we have to market things better. we have the chance to have people have an index of income. i'm thrilled i am thrilled that we were able to get this done. >> let me ask you a question. and the numbers of millions of students that are caring about high debt, that is a very high interest rate. what are the administration's thoughts on getting relief for that? >> i am happy to have the conversations about this. including students working
we also have the burden on our children for a deficit. this includes interest rate savings for students and parents between 2013 and 2018 to be able to have $30 billion of savings and at least a billion dollars that was passed with this committee recently. >> it is a long-term fix. i want to take on tough issues, and moved to all the other issues. i don't want to come back year after year on the same stock. >> i would hope that we would keep that 3.4% rate for the subsidized...
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Mar 5, 2013
03/13
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but let's reduce that deficit. let's reduce that deficit. and it's important to note that this debate happened in a week that we will be taking up the continuing resolution. four days since the sequester went into effect. the continuing resolution that the republicans were putting forth is a bill that reinforces -- reinforces the sequestration. so what does that do federal reserve chairman ben bernanke, take it from him, he told congress last week that the cuts of this size made this quickly would hurt hiring and income, slow the recovery, and cost the economy 750,000 jobs this year, and keep deficits larger than otherwise. so we are not reducing the deficit by what is really happening on the major legislation coming to this floor last week and this week in terms of sequester and continuing resolution. that's what we should be doing is figuring out a way to get rid of the sequestration. what does sequestration mean? whatever its latin roots, it equals job loss. 750,000 by the estimate of the chairman of the fed. and why are we -- what is the
but let's reduce that deficit. let's reduce that deficit. and it's important to note that this debate happened in a week that we will be taking up the continuing resolution. four days since the sequester went into effect. the continuing resolution that the republicans were putting forth is a bill that reinforces -- reinforces the sequestration. so what does that do federal reserve chairman ben bernanke, take it from him, he told congress last week that the cuts of this size made this quickly...
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Apr 10, 2013
04/13
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our deficits are already falling. over the past two years, i've signed legislation that will reduce our deficits by more than $2.5 trillion, more than 2/3 of it through spending cuts, and the rest through asking the wealthiest americans to be paying their fair share. that doesn't mean we don't have more work to do, but here's how we finish the job. my budget will reduce our deficits by nearly another $2 trillion so that all told we will have surpassed the goal of $4 trillion in deficit reduction that independent economists believe we need to stabilize our finances, but it does so in a balanced and responsible way, a way that most americans prefer. both parties, for example, agree that the rising costs of caring for an aging generation is the single biggest driver of our long-term deficits. and the truth is for those like me who deeply believe in our social insurance programs think it's one of the core things that our government needs to do if we want to keep medicare working as well as it has, and we want to preserve
our deficits are already falling. over the past two years, i've signed legislation that will reduce our deficits by more than $2.5 trillion, more than 2/3 of it through spending cuts, and the rest through asking the wealthiest americans to be paying their fair share. that doesn't mean we don't have more work to do, but here's how we finish the job. my budget will reduce our deficits by nearly another $2 trillion so that all told we will have surpassed the goal of $4 trillion in deficit...
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May 31, 2013
05/13
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offer was we try to deficit neutral. the -- the amendment we tried to offer was deficit neutral. you get the difference? of the pick the worst market, or you can pick the best of the market. they have chosen to pick the worst of the market for these students. they had options. publicans last night had options. -- republican + had options. one offered an amendment to keep the rate at 3.4%, they rejected it. i offered be president of the report -- the president's approach, they rejected it. students continue to pay on time, as they should, because you want good behavior because you get more of it very -- it. they rejected that. mr. rice went before them, very concerned about the interest rate. very concerned about what is going to happen to these families feared he thought he could lower the interest rate within the market rate, stick with the market principle. they said no. so all you got today is whether or not you want a solution that is worse than the doubling of the interest rate on july 1. that is not an answer for america's families. that is not an answer for america's stude
offer was we try to deficit neutral. the -- the amendment we tried to offer was deficit neutral. you get the difference? of the pick the worst market, or you can pick the best of the market. they have chosen to pick the worst of the market for these students. they had options. publicans last night had options. -- republican + had options. one offered an amendment to keep the rate at 3.4%, they rejected it. i offered be president of the report -- the president's approach, they rejected it....
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Mar 18, 2013
03/13
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they're not talking to me about the deficit. they want to know what we're doing as far as putting the american people to work. can you expound upon that for me please? ms. fudge: absolutely. i thank the gentlelady. what we have done in this budget, not only did we put in $13 billion for work force training, for job corps, for dislocated workers, retraining, segment training but in total we have almost $500 billion worth of job creation built into our budget. more than any budget, more than any budget, whether it be the democratic caucus, the white house budget or the republican budget. we have doubled down on jobs in the c.b.c. budget. ms. brown: thank you, madam chair. mr. horsford: continuing on, as the chairwoman of the c.b.c. just talked about, the congressional black caucus budget is an alternative budget for the fiscal year 2014. it puts forth a plan that reduces the deficit by $2.8 trillion over the next decade and creates millions of jobs through significant investments toward job creation that will accelerate our econom
they're not talking to me about the deficit. they want to know what we're doing as far as putting the american people to work. can you expound upon that for me please? ms. fudge: absolutely. i thank the gentlelady. what we have done in this budget, not only did we put in $13 billion for work force training, for job corps, for dislocated workers, retraining, segment training but in total we have almost $500 billion worth of job creation built into our budget. more than any budget, more than any...
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Feb 28, 2013
02/13
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he has put forward budget deficit reduction proposals, significantly deficit reduction through spending cuts. but he insists on balance. first of all, the president will be meeting with them on friday and spoke with them last week and spoke with them on capitol hill. the senate is still yet to vote and hopefully tomorrow that will achieve the postponement of the sequester deadline to allow congress to move forward in a sensible, no-drama fashion that would avoid these unnecessary impacts across the economy and the country and hopefully, you know, republicans will change their minds about filibustering that and allow a majority of the senate to pass a bill that would achieve that delay in a balanced way. move it to the house and perhaps, again, hope springs eternal, the speaker would allow that to come to a vote. there is a very good chance that there is a majority in the house of representatives that would support a simple proposition, which is we can postponethe deadline for the sequester in a balanced way, just as congress did in bipartisan fashion just two months ago. why not do that
he has put forward budget deficit reduction proposals, significantly deficit reduction through spending cuts. but he insists on balance. first of all, the president will be meeting with them on friday and spoke with them last week and spoke with them on capitol hill. the senate is still yet to vote and hopefully tomorrow that will achieve the postponement of the sequester deadline to allow congress to move forward in a sensible, no-drama fashion that would avoid these unnecessary impacts across...
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Feb 13, 2013
02/13
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>> deficit impact was a slight deficit reduction. the costs of the coverage expansion may be what you are referring to over the 10-year window at the time. i don't know that number off hand. the number of that and the cost of coverage expansion over 10 years we think would be smaller by a little bit than we thought at the time, but the budget window, the 10 years we provide projections for has moved out to 2023 and increases the current 10-year costs. >> and and again, switching subjects for a minute, does the c.b.o. look at unfunded obligations like what the acktue article obligations are of social security, medicare, medicaid? does c.b.o. look at those? >> yes, long-term budget outlook, we include the costs of those programs and comments on the social security trust fund. >> you discount those back and say this is what the net unfunded obligation is for social security today? >> yes, we do, congressman. >> do you have the numbers off the top of your head? >> i'm sorry, i don't. but it is substantial. >> trillions of dollars between
>> deficit impact was a slight deficit reduction. the costs of the coverage expansion may be what you are referring to over the 10-year window at the time. i don't know that number off hand. the number of that and the cost of coverage expansion over 10 years we think would be smaller by a little bit than we thought at the time, but the budget window, the 10 years we provide projections for has moved out to 2023 and increases the current 10-year costs. >> and and again, switching...
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May 16, 2013
05/13
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just four years ago, the deficit was over 10% of our g.d.p. this year it's projected to fall below 5%. half of what it was just four years ago. now, i understand that this news may not fit neatly within the narrative of our friends on the other side of the aisle who just as they did in the summer of 2011, unfortunately, tried just last week to manufacture another debt crisis where nonexists. i would note that it was only a few months ago we worked together on a bipartisan fashion to suspend the debt limit. on the heels of our new year's day compromise and the tax portions of the fiscal cliff, my republican colleagues recognized the dangers of yet another debt showdown on the markets and on the possibility of downgrading u.s. credit worthiness, but rather than build on that rare moment of ipartisan cy -- bipartisan comity and put our nation back on a path of financial responsibility, house republicans doubled down. they pushed ahead with their cut, spend at any cost agenda. they pushed through a continuing resolution that baked in the harmful c
just four years ago, the deficit was over 10% of our g.d.p. this year it's projected to fall below 5%. half of what it was just four years ago. now, i understand that this news may not fit neatly within the narrative of our friends on the other side of the aisle who just as they did in the summer of 2011, unfortunately, tried just last week to manufacture another debt crisis where nonexists. i would note that it was only a few months ago we worked together on a bipartisan fashion to suspend the...
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May 30, 2013
05/13
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deficit, economy, and science research. book tv. 2, addressing partisanship. activists.an 3, and tomorrow on "washington journal" scott paul on american alliance for manufacturing. and regulation of natural gas and the oil market. later a look at the trends in school crime and safety. "washington journal" is live every morning at 7 a.m. eastern on c-span. , the group center forward released a study on health care law and its premiums. >> good morning. i'm a former member of congress and chair of center forward. we welcome you to our program this morning. center forward has existed for three years. we are about discussions and across the aisle conversations. we think it is important for organizations like center forward to bring panel discussions together over issues that are currently very important to the american public and policy makers on the hill as well. we view our role as aiding and assisting in providing information. today it is about providing information. we bring together in smaller programs members of congress from both sides of the aisle and the
deficit, economy, and science research. book tv. 2, addressing partisanship. activists.an 3, and tomorrow on "washington journal" scott paul on american alliance for manufacturing. and regulation of natural gas and the oil market. later a look at the trends in school crime and safety. "washington journal" is live every morning at 7 a.m. eastern on c-span. , the group center forward released a study on health care law and its premiums. >> good morning. i'm a former...
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Jul 17, 2013
07/13
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it isn't just that comprehensive immigration reform will reduce our deficit. it isn't just that comp rehence i have immigration reform will strengthen our social security and our medicare systems. it isn't just that comprehensive immigration refrm will increase our gross domestic product and strengthen our american economy. no. more than that, at the heart of our moral fiber, we know comprehensive immigration reform is the right thing to do. i yield back. thank you, mr. cardenas. mr. cardenas: thank you, congressman cartwright. i think it's very important for us to understand once again that tonight we're covering many aspects of why comprehensive immigration reform is good for this country and it's really important for us to understand and what i urge every viewer to do is to ask your local chamber of commerce how they feel about whether or not comprehensive immigration reform is overdue and whether or not we should pass such a bill. also ask your local law enforcement agencies, for example, 37 out of the 50 states attorneys generals in this country have all
it isn't just that comprehensive immigration reform will reduce our deficit. it isn't just that comp rehence i have immigration reform will strengthen our social security and our medicare systems. it isn't just that comprehensive immigration refrm will increase our gross domestic product and strengthen our american economy. no. more than that, at the heart of our moral fiber, we know comprehensive immigration reform is the right thing to do. i yield back. thank you, mr. cardenas. mr. cardenas:...
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Jan 10, 2013
01/13
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we have begun to roost -- to reduce our deficit through a mix of spending cuts and a tax system that when we came in was too skewed toward wealthy americans. when the history books are written, tim geithner is going to go down as one of our finest secretaries of the treasury. [applause] don't embarrass him. [laughter] on a personal note, tim has been a wonderful friend and a dependable adviser throughout these last four years. there is an unofficial saying over at the treasury "no peacocks, no trucks, no wiener's -- no jerks, no whine rs." that would be a good saying for all of washington. some -- no one embodies that better than tim geithner. i had to get on my knees two years ago to convince him to stay on a little bit longer, and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that are cabinet members ask of their families in serving their country. the fact is, while a lot of work remains, especially to build new pathways for working folks to rise into the middle class, our position is better for tomorrow than most of th
we have begun to roost -- to reduce our deficit through a mix of spending cuts and a tax system that when we came in was too skewed toward wealthy americans. when the history books are written, tim geithner is going to go down as one of our finest secretaries of the treasury. [applause] don't embarrass him. [laughter] on a personal note, tim has been a wonderful friend and a dependable adviser throughout these last four years. there is an unofficial saying over at the treasury "no...
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Feb 6, 2013
02/13
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year per taxpayer to cover our existing deficit. the total tab for the past four years of $1 trillion each year would be about $27,500 a year. back in the sixth district of indiana where i come from, that is a lot of money. i think we it owe it to the taxpayers know what we're doing here in washington. i yield -- i reserve the balance of my time. the chair: the gentleman reserves the balance of his time. for what purpose does the gentleman from maryland seek recognition? mr. van hollen: thank you, madam chairman. i ask unanimous consent to claim time in opposition even though i am not. the chair: the gentleman is recognized. mr. van hollen: thank you, madam chairman. i think it's very useful to let everybody in the country know exactly what the debt and deficit will be on a per capita basis. we in congress can of course do the math. i think it's no problem asking the president to run that calculation as well. again, i want to emphasize the fact there is agreement on reducing the deficit. the real differences here are over how we do
year per taxpayer to cover our existing deficit. the total tab for the past four years of $1 trillion each year would be about $27,500 a year. back in the sixth district of indiana where i come from, that is a lot of money. i think we it owe it to the taxpayers know what we're doing here in washington. i yield -- i reserve the balance of my time. the chair: the gentleman reserves the balance of his time. for what purpose does the gentleman from maryland seek recognition? mr. van hollen: thank...
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Mar 14, 2013
03/13
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we add an additional $1.85 trillion in new deficit reduction for a total of $4.25 trillion in deficit reduction since the simpson-bowles report. this is a jobs and economic growth budget. we believe that with the unemployment rate that remains stubbornly high and a middle class that has seen their wages stagnate for toong, we cannot afford any threats to our fragile recovery. that's why our budget uses equal amounts of responsible spending cuts and new revenue from the wealthiest americans to fully replace the cuts from sequestration that threaten hundreds of thousands of jobs this year and cuts that will endanger our economic growth for years to come. the senate budget is a balanced and it is a responsible approach. now, the house of representatives is also working on their budget resolution as you know and there are serious differences between the visions and the values and the priorities within our two approaches. but the american people are going to have an opportunity to examine these budgets side by side. they are going to be able to decide which approach is best for our economy
we add an additional $1.85 trillion in new deficit reduction for a total of $4.25 trillion in deficit reduction since the simpson-bowles report. this is a jobs and economic growth budget. we believe that with the unemployment rate that remains stubbornly high and a middle class that has seen their wages stagnate for toong, we cannot afford any threats to our fragile recovery. that's why our budget uses equal amounts of responsible spending cuts and new revenue from the wealthiest americans to...
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Jun 27, 2013
06/13
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the deficit more than investing in education. there is no time to waste. we could all just come to the floor and vote for the courtney bill, which would freeze the ate at 3.4% as senator reid is suggesting for one year. this does as well. give time for the american people to weigh in on the differences in their lives. as you know this week was the very eventful one. the court decisions on doma and on proposition 8 in the state of california. we are very historic and consequential to who we are as a nation. but to individual families in our country. that was a happy day. not so happy the day before when the court ruled on the voting rights act. immediately our caucus and some republicans as well, have spoken out on what we can do in response to the court's action. we had a caucus yesterday. i tasked our assistant leader, jim clyburn of south carolina, to take the lead on this issue. to bring together in a bipartisan way the ideas that could meet the criteria that will -- it will be a set of criteria that could meet the court's jud
the deficit more than investing in education. there is no time to waste. we could all just come to the floor and vote for the courtney bill, which would freeze the ate at 3.4% as senator reid is suggesting for one year. this does as well. give time for the american people to weigh in on the differences in their lives. as you know this week was the very eventful one. the court decisions on doma and on proposition 8 in the state of california. we are very historic and consequential to who we are...
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Feb 20, 2013
02/13
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there's been $2.5 trillion in deficit reduction. it has not been pretty but under this president's leadership that has happened. by a margin of 2:1 that has been achieved. the idea that we're done with revenue suggests that the proposals that the speaker of the house said that he was willing to embrace last year that included up to $800 billion in revenue from tax reform are no longer worthwhile. the loop holes that should be closed, that is no longer good policy. why was it good policy back in december to eliminate tax breaks for the larm carp operations. why was it a good policy then but not now? why it is better to preserve those tax breaks now than to preserve the jobs of average americans around the country who would lose those jobs if the sequester goes into effect. if you ask where the president's plan, it has been there. it is on white house.gov. the speaker walked away from it. >> that was the budget plan for the long term. how do you prevent sequestration from taking -- >> congress has to act. the president could do this h
there's been $2.5 trillion in deficit reduction. it has not been pretty but under this president's leadership that has happened. by a margin of 2:1 that has been achieved. the idea that we're done with revenue suggests that the proposals that the speaker of the house said that he was willing to embrace last year that included up to $800 billion in revenue from tax reform are no longer worthwhile. the loop holes that should be closed, that is no longer good policy. why was it good policy back in...
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Apr 11, 2013
04/13
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growing jobs and eliminating the deficit go hand in hand. to balance the budget we need both spending cuts and real economic growth. with that, mr. speaker, i reserve the balance of my time. the speaker pro tempore: the gentlewoman reserves. the gentleman from colorado. mr. polis: sound like i agree with the gentlelady on many of our national priorities. for goodness sake, leapt's reform the tax code, bring down gas price, my constituents are complaining about them. balancing the budget, making sure that we have a business climate that's friendly for small businesses. why aren't we talking about any of that on the floor of the house today instead of enshrining a d.c. district court decision in a statute to the detriment of job creation, american business, against many of those great concepts that my colleague, dr. foxx, espoused. there's got to be a connection here. the american people are smart enough to make it. it's great to pay lib service to all these wonderful things, but what are we doing with our lemming time, taxpayers pay for here
growing jobs and eliminating the deficit go hand in hand. to balance the budget we need both spending cuts and real economic growth. with that, mr. speaker, i reserve the balance of my time. the speaker pro tempore: the gentlewoman reserves. the gentleman from colorado. mr. polis: sound like i agree with the gentlelady on many of our national priorities. for goodness sake, leapt's reform the tax code, bring down gas price, my constituents are complaining about them. balancing the budget, making...
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Jul 30, 2013
07/13
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the real drivers of the deficit. tax expenditures, entitlements. the real drivers of the deficit. thus lifting sequestration along with the drag it represents on our economy and the mockery it makes of the appropriations process. the bill before us is exhibit a of this travesty and i urge my colleagues to raise their voices and their votes against it. i yield back the balance of my time. the chair: the gentleman yields back. the gentleman from arizona reserves. mr. pastor: mr. chairman, i reserve my time. mr. latham: mr. chairman, i reserve at this time. the chair: the gentleman reserves. the gentleman from arizona is recognized. mr. pastor: mr. chairman, i yield three minutes to my distinguished friend from chicago, mr. quigley. the chair: the gentleman from illinois is recognized for three minutes. mr. quigley: thank you, mr. speaker. mr. speaker, i became a member of the appropriations committee this congress to make the tough funding choices that determine our national priorities. but this year's budget allocatio
the real drivers of the deficit. tax expenditures, entitlements. the real drivers of the deficit. thus lifting sequestration along with the drag it represents on our economy and the mockery it makes of the appropriations process. the bill before us is exhibit a of this travesty and i urge my colleagues to raise their voices and their votes against it. i yield back the balance of my time. the chair: the gentleman yields back. the gentleman from arizona reserves. mr. pastor: mr. chairman, i...
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Mar 12, 2013
03/13
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achieve real deficit reduction. at a time when corporations are making record profits, stock market, and the wealthy americans' income continues to rise, the deficit reduction shouldn't be at the expense of the middle class families, senior citizens, and the poor. americans have demanded a fair approach to deficit reduction, alt americans, democrats, independents, and republicans. they want a fair approach to deficit reduction that makes sensible cuts, ask the wealthiest to share the burden, balance. we have been listening, mr. president, that's why this week budget committee chair, patty murray, will introduce a budget with both balanced priorities. her plan, democratic plan, will cut wasteful spending and reduce the deficit and invests in what the economy needs to grow really hard, to continue to build, to grow, and create a strong middle class. congressman ryan and his republican colleagues in congress have taken a different approach. an approach that makes it plain they missed the message in the november electio
achieve real deficit reduction. at a time when corporations are making record profits, stock market, and the wealthy americans' income continues to rise, the deficit reduction shouldn't be at the expense of the middle class families, senior citizens, and the poor. americans have demanded a fair approach to deficit reduction, alt americans, democrats, independents, and republicans. they want a fair approach to deficit reduction that makes sensible cuts, ask the wealthiest to share the burden,...
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May 6, 2013
05/13
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it bears remembering that this president has signed into law over $2.5 trillion of deficit reduction. thee now in the midst of most precipitous decline in our deficit since demobilization after world war ii. it bears remembering that the goal of $4 trillion over 10 years in domestic production is achievable if there is a willingness to compromise on capitol hill, if there is a willingness to do what the president has done, which is put forward proposals that represent some difficult choices by everyone, and that includes republicans. that means that revenue has to be part of the deal, has to be part of the question, because otherwise you have to do deficit reduction on the backs of seniors or students or middle class families alone, and that is in the president's opinion neither appropriate nor fair. >> does the president believe this is conducive to this kind of discussion? >> he is willing to try anything. [laughter] whether it is a conversation on the phone or a meeting in the oval office or dinner at a restaurant, he is going to have the same kinds of conversations. thatll test th
it bears remembering that this president has signed into law over $2.5 trillion of deficit reduction. thee now in the midst of most precipitous decline in our deficit since demobilization after world war ii. it bears remembering that the goal of $4 trillion over 10 years in domestic production is achievable if there is a willingness to compromise on capitol hill, if there is a willingness to do what the president has done, which is put forward proposals that represent some difficult choices by...
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Jul 25, 2013
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[applause] is cost of healthcare growing at its slowest rate in areears, and our deficits falling in the fastest rates in 60 years. we have got health care costs starting to slow down, deficits jobs up, exports up, energy production up, we've fromed away the rubble the financial crisis thanks to the grid and resilience of the american people. we've begun to lay a new , moretion for stronger durable, more sustainable economic road. with the revolutions coming in energy, technology, manufacturing, and healthcare, to be able to finally reverse some of the forces that were hurting middle- class families for so long. ancan start rebuilding economy where everybody who works hard can get ahead. that is our goal. [applause] i am here to tell you today what you already know. we are not there yet. in a lot of ways an , they have been -- those trends have been building for decades, where a few folks are doing better and better at the top and everybody has been treading water. those trends are made worse by the recession. reversing those trends should be washington's highest priority. it is my h
[applause] is cost of healthcare growing at its slowest rate in areears, and our deficits falling in the fastest rates in 60 years. we have got health care costs starting to slow down, deficits jobs up, exports up, energy production up, we've fromed away the rubble the financial crisis thanks to the grid and resilience of the american people. we've begun to lay a new , moretion for stronger durable, more sustainable economic road. with the revolutions coming in energy, technology,...
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Feb 5, 2013
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we need to reduce our deficit and begin paying down our debt. but irresponsible across-the-board sequestration cuts are not the way to do it. i yield back the balance of my time. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from michigan seek recognition? without objection, the gentleman is recognized for one minute. >> mr. speaker, america's manufacturing sector has played an invaluable role over the last century in propelling our economy and creating a strong and vibrant middle class. manufacturing continues to be a bright spot in our economic recovery. since 2010, the u.s. has added over a half a million manufacturing jobs. mr. kildee: that's progress. but in a time where millions of americans continue to struggle, we can and must do more. congress should be working every day to rebuild our economy and create good-paying jobs right here in america not overseas. that's why i support the make it in america agenda, which will strengthen manufacturing and rebuild our infrastructure. it will also m
we need to reduce our deficit and begin paying down our debt. but irresponsible across-the-board sequestration cuts are not the way to do it. i yield back the balance of my time. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from michigan seek recognition? without objection, the gentleman is recognized for one minute. >> mr. speaker, america's manufacturing sector has played an invaluable role over the last century in propelling our economy...
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Mar 20, 2013
03/13
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our focus is on jobs and the jobs deficit as a way to tackle the budget deficit. with that, i'm pleased to yield three minutes to my colleague and friend from maryland, the distinguished whip, mr. hoyer. the chair: the gentleman is recognized for three minutes. without objection, so ordered. mr. hoyer: i first want to thank the ranking member for the work that he's done on this budget. that he offers us an alternative. it is a reasonable alternative that can be implemented. to that extent it's a stark difference to the majority's proposal which will not be implemented and they know it. let me start with an observation. headline blunt report says g.o.p. needs to regroup for 2016. in that there is this sentence from the report, not from a democrat, not from the newspaper, not from an editorial writer, quote, we have become expert, we being the republican party report, we have become expert in how to provide ideological reinforcement to like-minded people. with all due respect to my friend, mr. ryan, that's what his budget is. it is a vision. it is a vision that will
our focus is on jobs and the jobs deficit as a way to tackle the budget deficit. with that, i'm pleased to yield three minutes to my colleague and friend from maryland, the distinguished whip, mr. hoyer. the chair: the gentleman is recognized for three minutes. without objection, so ordered. mr. hoyer: i first want to thank the ranking member for the work that he's done on this budget. that he offers us an alternative. it is a reasonable alternative that can be implemented. to that extent it's...
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Apr 25, 2013
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speaker, is that deficit reduction is an important goal, but deficit reduction alone is not an economic policy. we know that mindless austerity, budget cuts like this stupid sequester, are not going to help our economy grow and help people get jobs and help get our economy back on the footing we want it to be on. when bill clinton was president, when he rescued the economy in the 1990's, he did so through job creation. investing in our economy. we expanded the tax base by increasing the work force, bringing more revenue into the federal government and thereby reducing the deficit. here's the funny thing. despite the apocalyptic gloom and doom of some on the other side of the aisle, believe it or not the deficit is actually shrinking faster than expected. and the best thing we can do is to help speed up that process by investing in our people and creating jobs. we should be promoting growth through infrastructure projects and job training programs. we should be creating long-term demand through research and development. not cutting the national institutes of health research budget. not c
speaker, is that deficit reduction is an important goal, but deficit reduction alone is not an economic policy. we know that mindless austerity, budget cuts like this stupid sequester, are not going to help our economy grow and help people get jobs and help get our economy back on the footing we want it to be on. when bill clinton was president, when he rescued the economy in the 1990's, he did so through job creation. investing in our economy. we expanded the tax base by increasing the work...
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Mar 14, 2013
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speaker, 70% of americans want this deficit reduced. i imagine those numbers are probably higher in nebraska where i live where fiscal responsibility is the core characteristic of family life and business ethics as well as good government. people know economically, that you can't spend more than you have. citizens also want to see their government act in a reasonable fashion. mr. speaker, the federal budget deficit has been running more than $1 trillion in the last few years and our cumulative debt will top $17 trillion this year, the size of our overall economic output in the country. the overspending and debt are serious impediments to economic recovery and they create national security problems. . some want to halt any spending reductions at all. i don't think this is an option. washington must begin living in the real world. something must be done. two principles should be at work here. there must be reasonable budgetary reductions while at the same time there must be deliberate delivery of a smart and effective government service.
speaker, 70% of americans want this deficit reduced. i imagine those numbers are probably higher in nebraska where i live where fiscal responsibility is the core characteristic of family life and business ethics as well as good government. people know economically, that you can't spend more than you have. citizens also want to see their government act in a reasonable fashion. mr. speaker, the federal budget deficit has been running more than $1 trillion in the last few years and our cumulative...
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Jan 1, 2013
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having said that, we still of the deficit issue. we still have a deficit problem. what we tried to establish this morning in this vote, revenue has to be part of the solution. the other side of the aisle reluctantly, after years of resisting, came to our side on this problem. number two, we need to look in entitlements. here is what the facts are. social security can make every promise of payment for 20 years. you cannot say that about any other federal program. on the 21st year, there will be a drop-off of 30% in terms of social security benefits. so, we of 20 years. we can wait to do something, or we can do something soon, maybe even this year, 2013. that is what i would like to see. i am preparing legislation which will call for the creation of a commission with a simple assignment, come up with a plan for a 75 year solvency of social security. when you haven't and it has been certified to be a valid plan, -- have its and it has been certified to be a valid plan, bring it to congress where it can be passed without a filibuster. to haveve this chance this debate
having said that, we still of the deficit issue. we still have a deficit problem. what we tried to establish this morning in this vote, revenue has to be part of the solution. the other side of the aisle reluctantly, after years of resisting, came to our side on this problem. number two, we need to look in entitlements. here is what the facts are. social security can make every promise of payment for 20 years. you cannot say that about any other federal program. on the 21st year, there will be...
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Mar 8, 2013
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this is the way i economists tend to think about the deficit, how large is the deficit relative to the size of the economy. and you can see that the federal budget deficits as a share of gdp has already fallen by 3.1% over the past three years. this is the fastest three-year pace of deficit reduction since the late 1940's, as you can see in this chart. and this next chart shows cbo's protection under current law, and this shows that the deficit will continue to fall at its fastest post-war pace this year and next year, and then after bottoming in 2015, slowly rise to about 3.8% of gdp by 2022. now, the cbo projection is under current law, which includes the sequester. path, of very rapid deficit reduction over the next couple years, and fix near term pain to the recovery and to american families, but it does not stabilize and our finances. to stabilize the debt of the to the size of the economy, we need the deficit to fall below 3% and stay there. that is why we set a target of $4 trillion over the next 10 years. so we are most of the way there, but we need to finish the job. and the s
this is the way i economists tend to think about the deficit, how large is the deficit relative to the size of the economy. and you can see that the federal budget deficits as a share of gdp has already fallen by 3.1% over the past three years. this is the fastest three-year pace of deficit reduction since the late 1940's, as you can see in this chart. and this next chart shows cbo's protection under current law, and this shows that the deficit will continue to fall at its fastest post-war pace...
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Feb 5, 2013
02/13
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so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the way he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the honor, but i'm only a chairman today. the gentleman is recognized. mr. hoyer: we wish you the best for the future. the chair: thank you. mr. van hollen, may i ask for how long he was recognized? mr. van hollen: i yield four minutes. the chair: the gentleman from maryland is recognized. mr. hoyer: i thank the gentleman for yielding. mr. price of georgia said what the american people want. what the american people don't want is games. this is a game. this is a sham. this is a shame. what the american people want is honest legisl
so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the way he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the...
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Jan 1, 2013
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our deficit this year alone is likely to be about $1.3 trillion. this would reduce it down to $1.24 trillion. with the $60 billion of new revenue that it gains. most importantly it sets up three more fiscal cliffs over the next three months. when appropriation spending expires on march 27, when the debt ceiling has to be increased at the end of february, and when the sequester has to be dealt with at the very same time. so all we have done is to stumble forward and to an even less predictable situation with far fewer resources to invest in our nation and our children's future. thank you, mr. speaker. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from missouri seek recognition? >> mr. speaker, to address the house for one minute. the speaker pro tempore: without objection, the gentleman from missouri is recognized for one minute. mr. cleaver: thank you, mr. speaker. i don't particularly like the bill that's going to come to the floor. i'm going to vote for it. the reason is that i stumbling through on
our deficit this year alone is likely to be about $1.3 trillion. this would reduce it down to $1.24 trillion. with the $60 billion of new revenue that it gains. most importantly it sets up three more fiscal cliffs over the next three months. when appropriation spending expires on march 27, when the debt ceiling has to be increased at the end of february, and when the sequester has to be dealt with at the very same time. so all we have done is to stumble forward and to an even less predictable...
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Feb 12, 2013
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so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare, medicaid, social security and interest on the debt. those four things. the entire federal government, the rest of the entire federal government, everything, everything, post office, roads, transportation, justice, education, energy, defense, everything else is about $1 trillion. you all just heard what the deficit was last year. $1.3 trillion. which means we can do away with the entire federal government with the exception of medicare, medicaid and social security and we wouldn't even balance the budget. that's the magnitude of the challenge that we have. so it's incumbent upon
so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare,...
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Mar 5, 2013
03/13
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we should reduce the deficit and this bill does nothing to reduce the deficit. what we need to do is make sure that we get our deficits under control, that we stabilize the debt and that we make smart choices for the people in this country. yes, there is a difference of opinion. we believe that as part of reducing the deficit we should make targeted smart cuts but we should also cut some of those tax loopholes. now the gentleman mentioned that we passed a tax increase on $600 billion over the next 10 years. that's right. we said for higher income earners you'll pay the same rates as you did during the clinton administration. but the gentleman suggested that budget history began on january 1 of this year. we were all here, not everybody, but most of us when we passed the budget control act in the summer of 2011. what did we do in that act? we capped spending. $1.5 trillion in spending reductions. that was the right thing to do. now we've done $600 billion in revenue. so i think most people can do the math on this. we are not even close to the kind of ratios that
we should reduce the deficit and this bill does nothing to reduce the deficit. what we need to do is make sure that we get our deficits under control, that we stabilize the debt and that we make smart choices for the people in this country. yes, there is a difference of opinion. we believe that as part of reducing the deficit we should make targeted smart cuts but we should also cut some of those tax loopholes. now the gentleman mentioned that we passed a tax increase on $600 billion over the...
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Mar 21, 2013
03/13
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we have a jobs deficit. we have a budget deficit. and these are the byproducts of a leadership deficit. we still have no budget from the president, in violation of the law. he gets his ncaa bracket in on time but still no budget. this is the fourth time in five years. he set a new record this year, two months with no plan, while we had trillion-dollar deficits and a debt crisis on the horizon. his party leaders, unfortunately, failing offering a serious account of our challenge. no serious plan to grow our economy or create jobs. no plan to ever balance the budget. take more. trillions of dollars more to spend more in washington. that's what got us in this mess in the first place. so what can be done? the good news is that we now have a vehicle for regular order. the democrats derailed the budget process each of the last few years and stopped governing when they stopped budgeting. at least we now have a budget process that's moving. we brought them back in the game this spring. that's a good thing. so what's going to happen in the we
we have a jobs deficit. we have a budget deficit. and these are the byproducts of a leadership deficit. we still have no budget from the president, in violation of the law. he gets his ncaa bracket in on time but still no budget. this is the fourth time in five years. he set a new record this year, two months with no plan, while we had trillion-dollar deficits and a debt crisis on the horizon. his party leaders, unfortunately, failing offering a serious account of our challenge. no serious plan...
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Jan 23, 2013
01/13
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we need a -- $ trillion deficit. we need a -- $1 trillion deficit. we need a serious plan to address the deficit, however, the senate has gone nearly four years without passing an annual budget. taking a year by year approach and addressing only discretionary spending will not solve our long-term spending problem. we must take a comprehensive long-term approach to the federal budget, a comprehensive approach to spending must address the long-term solvency issues on entitlements such as medicare, medicaid and social security. without reform, spending will remain on an unsustainable path while the medicare and social security trust funds are emptied before the majority of americans currently are paying in even qualified to become beneficiaries of those programs. today's legislation will allow us to work with the senate in achieving this long-term deficit solution we know would meet the needs of americans. thank you. i yield back. the speaker pro tempore: the gentleman's time has expired. the gentleman from michigan. mr. levin: i yield one minute to the
we need a -- $ trillion deficit. we need a -- $1 trillion deficit. we need a serious plan to address the deficit, however, the senate has gone nearly four years without passing an annual budget. taking a year by year approach and addressing only discretionary spending will not solve our long-term spending problem. we must take a comprehensive long-term approach to the federal budget, a comprehensive approach to spending must address the long-term solvency issues on entitlements such as...
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Mar 19, 2013
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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Jan 17, 2013
01/13
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he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal that has become the defining memo for the effort to try to get that is under control. is fond of quoting a friend of his, the foreign minister of australia. we met a few months ago who said to him the united states is one debt deal away from leading the world out of fiscal chaos and disruption. we are. we truly are. we are a nation on the brink of massive economic expansion. from the place that can't is from, north dakota, you see the change in the paradigm on energy. we will go from an important country to exportin
he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal...
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Jan 22, 2013
01/13
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we have had trialion dollar deficits every year. nobody would expect to be paid if they didn't do their job. no budget, no pay. if harry reid cannot pass a budget, they are fundamentally moving the responsibility why they should even be in the majority. to me, this is a turning point for this country, getting to the fundamentals of a planning for the future that this could be the mark of a great american comeback. >> good evening. yesterday, the president was inaugurated and he took a similar -- he took an oath of office that is very similar to the one that we take as members of congress, to uphold the constitution and to protect this country. and it starts with getting a budget in place. that is pretty fundamental to governing and the federal government is operating right now with a continuing resolution. and we need a budget in place. we need a senate to pass the budget. it's going on four years since the senate has passed the budget. the senate has said his budget is going to be delayed. america, families understand they need to
we have had trialion dollar deficits every year. nobody would expect to be paid if they didn't do their job. no budget, no pay. if harry reid cannot pass a budget, they are fundamentally moving the responsibility why they should even be in the majority. to me, this is a turning point for this country, getting to the fundamentals of a planning for the future that this could be the mark of a great american comeback. >> good evening. yesterday, the president was inaugurated and he took a...
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Jan 14, 2013
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the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more than debt reduction. they have a vision about what government should and should not do. they are suspicious about government policy commitment to make sure that seniors have decent health care as they grow older. they have suspicions about social security. they have suspicions about whether government should make sure that kids in poverty are getting enough to eat or whether we should be spending money on medical research. they have a particular view about what government should do and should be. that deal was
the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more...
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Jun 4, 2013
06/13
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and start worrying about our deficit. i encourage all members to support this commonsense amendment to help us reduce our spending and to pay off our unsustainable debt. i yield back the balance of my time. the chair: the gentleman yields back the balance of his time. for what purpose does the gentleman from texas seek recognition? mr. culberson: i rise in opposition to the amendment. the chair: the gentleman is recognized for five minutes. mr. culberson: i share my colleague from georgia's passion and commitment to reduce the deficit, to avoid passing on this debt to our children. this bill has bipartisan support and it's been put together very carefully to ensure that we're supporting our men and women in uniform. and i'm looking forward to finding ways to save money in other parts of the appropriations bill and in the parts of the budget that are actually truly crushing our kids with debt and deficit. it's the social safety net that has grown so tremendously that is causing the greatest burden on our kids, the social s
and start worrying about our deficit. i encourage all members to support this commonsense amendment to help us reduce our spending and to pay off our unsustainable debt. i yield back the balance of my time. the chair: the gentleman yields back the balance of his time. for what purpose does the gentleman from texas seek recognition? mr. culberson: i rise in opposition to the amendment. the chair: the gentleman is recognized for five minutes. mr. culberson: i share my colleague from georgia's...
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Apr 5, 2013
04/13
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this represents a balanced approach to our deficit challenges. if there is a willingness by republicans to compromise, as opposed to pursuing ideological purity, we can get something done for the american people. cpi, most people focus on social security. it affects a whole range of federal programs. meanare saying this will cuts in veterans benefits. or $300anders say $200 a year for some veterans. think the application of these -- this proposal exempts certain categories of vulnerable americans. that was the case last year and that will be the case in the president's budget. i will have to ask you to wait until wednesday. i want to give you something to cover next week. i do not have the specific itemized breakdown of how this works. i would wait for the budget for those. this is not what the president would do if he were keen for -- king or what he would do if only people who supported his proposals were in congress. this will protect seniors and helped secure the middle class and give ladders to those who want to get into the middle class. it
this represents a balanced approach to our deficit challenges. if there is a willingness by republicans to compromise, as opposed to pursuing ideological purity, we can get something done for the american people. cpi, most people focus on social security. it affects a whole range of federal programs. meanare saying this will cuts in veterans benefits. or $300anders say $200 a year for some veterans. think the application of these -- this proposal exempts certain categories of vulnerable...
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Feb 19, 2013
02/13
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the plan to reduce our deficit has to be part of our agenda, we also have to remember deficit reduction alone is not an economic plan. whenarned in the 1990's bill clinton was president, nothing shrinks a comic faster -- nothing grows the economy faster. we should make america a magnet for good jobs, equipping our people with skills required to fill those jobs, making sure their hard work leads to a decent living. those are the things we should be pushing ourselves to think about and work on every single day. that is what the american people expect. that is what i will work on every single day to help deliver. i made everybody watching today to understand that we have a few days, congress can do the right thing, we can avert one more washington-manufactured problem that slows our recovery, and bring down our deficit and balanced and responsible way. that is my goal and that's what will do right by these first responders and what would do right by america's middle class. that is what i will be working on fighting for not just over the next few weeks but over the next few years. thanks ve
the plan to reduce our deficit has to be part of our agenda, we also have to remember deficit reduction alone is not an economic plan. whenarned in the 1990's bill clinton was president, nothing shrinks a comic faster -- nothing grows the economy faster. we should make america a magnet for good jobs, equipping our people with skills required to fill those jobs, making sure their hard work leads to a decent living. those are the things we should be pushing ourselves to think about and work on...
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Jan 9, 2013
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two years ago, we faced the single largest per capita deficit in the nation. it was decades in the making. getting our fiscal house in order was critical to create jobs. connecticut employers needed a responsible and predictable parliament in state government. we came together and passed a balanced budget. we cut more than we added in revenues. today, our budget six more than 90% of the problem. democrats and republicans came together to make sure we close that gap without raising taxes. anyone who tells you that the budget we passed two years ago did not do its job, that it did not make real change in how we approach our finances is not telling the truth. many of you cast very heart of votes to fix those problems. that is kind of resolve and leadership we are bringing back to connecticut. we have made the tough decisions along the way. after years of underfunding of her pensions, a 4.5 billion dollar payment would have been required in the year 2032, more than four times what we pay. that payment would have been impossible. last year, we restructured payments
two years ago, we faced the single largest per capita deficit in the nation. it was decades in the making. getting our fiscal house in order was critical to create jobs. connecticut employers needed a responsible and predictable parliament in state government. we came together and passed a balanced budget. we cut more than we added in revenues. today, our budget six more than 90% of the problem. democrats and republicans came together to make sure we close that gap without raising taxes. anyone...
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Mar 12, 2013
03/13
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we bring our deficits down right away. this shows you how our deficit path goes down precipitously to begin with to the point where we end up with a surplus in 2023. in the 1990's, democratic president worked with a republican congress to balance the budget. this is the goal that both parties have been able to achieve consensus on achieving in the past. we think it's something we ought to do again. number three, this is the picture that should scare everybody. this is the picture that shows you the path we are on today. we know without a shred of doubt we are consigning the next generation to an inferior standard of living. we know just like in europe we are facing a debt crisis in this contry. and a debt crisis hurts everybody. but the people who the debt crisis hurts the most are the poor, the elderly, people who need government the most. they are the ones who get hurt first and worst in the a debt crisis. what are we doing? we are addressing the most predictable economic crisis in this country's history, the coming debt
we bring our deficits down right away. this shows you how our deficit path goes down precipitously to begin with to the point where we end up with a surplus in 2023. in the 1990's, democratic president worked with a republican congress to balance the budget. this is the goal that both parties have been able to achieve consensus on achieving in the past. we think it's something we ought to do again. number three, this is the picture that should scare everybody. this is the picture that shows you...
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Feb 26, 2013
02/13
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in addition to congress acting on a deficit reduction plan that's balanced and promotes job creation, there are things this committee can do to help achieve these goals. from workers oversite to confirming well qualified nominees to reauthorization laws to reach consensus on the future of housing finance, there are steps this committee can take to promote consumer confidence, provide business priority to move forward with long term plans and strengthen our economic recovery. chairman bernanke, i look forward to hearing your views as both the fed and the congress pursue policies supporting our nation's economic recovery. i now turn to ranking member crapo. >> thank you, mr. chairman. today we will hear from our federal reserve chairman, ben bernanke, who will testify on the fed's monetary policy and the state of the economy. mr. bernanke, i want to thank you at the outset for your on-going initiatives to improve transparency of the federal open market committee. because so much is at stake for the u.s. economy, the fed has the responsibility to make as much information available to the
in addition to congress acting on a deficit reduction plan that's balanced and promotes job creation, there are things this committee can do to help achieve these goals. from workers oversite to confirming well qualified nominees to reauthorization laws to reach consensus on the future of housing finance, there are steps this committee can take to promote consumer confidence, provide business priority to move forward with long term plans and strengthen our economic recovery. chairman bernanke,...
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Jun 22, 2013
06/13
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i hoped it would be deficit neutral. boy, did my hopes come true. it's not deficit neutral. according to the congressional budget office we reduced the deficit in the first ten years by 190 billion and over a 20-year period $700 billion. so the reason i didn't want to agree to 5,000 agents without somebody showing me how we would pay for it, we're borrowing enough money from our grandchildren and great grandchildren to run the government. we don't need to do any more borrowing unless we absolutely have to. the good news is the bill that we have written will create economic growth in the country at a time when we need economic growth. it will allow employers access to labor they don't have today so they won't be tempted to cheat in the future. this bill helps the economy. don't take my word for it, take cbo's word for it. if you had some more money to spend in this bill, how would you want to spend it? let me tell you what senator graham would like to do. he would like to hire 20,000 border patrol agents to let everybody in the country know i get it when you say we've got to
i hoped it would be deficit neutral. boy, did my hopes come true. it's not deficit neutral. according to the congressional budget office we reduced the deficit in the first ten years by 190 billion and over a 20-year period $700 billion. so the reason i didn't want to agree to 5,000 agents without somebody showing me how we would pay for it, we're borrowing enough money from our grandchildren and great grandchildren to run the government. we don't need to do any more borrowing unless we...
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Feb 11, 2013
02/13
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they're asking us to stop running deficits. they want us to learn these bad habits all over again. . 960 billion commitments and the same amount of payments. any director of a country with tell you that is economic suicide. you should not hide behind david cameron. you are faced with a choice between two opposing camps. he had made it clear what -- you have not made it clear what choice you will make. make the right choice. do not make the cameron option he wants to unravel the european union. you need to come out and say this to your fellow citizens. >> i want to thank you of for having got the budget treaty ratified in parliament. that is a good sign for europe. i looked long and hard. i do not see what happened to your euro growth pact. where have those gone? we are here to talk tand to negotiate. there are points who will not give ground on. there's the question of flexibility. we need a genuine flexibility between budgetary lines and years. that is how we have managed to run the budget properly in the context of austerity
they're asking us to stop running deficits. they want us to learn these bad habits all over again. . 960 billion commitments and the same amount of payments. any director of a country with tell you that is economic suicide. you should not hide behind david cameron. you are faced with a choice between two opposing camps. he had made it clear what -- you have not made it clear what choice you will make. make the right choice. do not make the cameron option he wants to unravel the european union....
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Apr 9, 2013
04/13
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in fiscal year 1993 he deficit was $255 billion. congressional budget office now projects the deficit for this country to be $845 billion. that will be the first time in five years that the deficit actually dipped below $1 trillion. in 1993 debt as a percentage of gross domestic product was 49%. today it's approaching 76%. the grand budget compromise that i believe we need to address this fiscal crisis must have, i think, three essential elements. it must address both spending and revenues in a balanced approach. must rein in the cost of our entitlement programs in a way that do not disadvantage our sabotage the poor or elderly. it must demand that better management of our government programs, something that senator coburn has already referred to. we ought to deliver better services to the american people at a lower cost in almost everything that we do. this committee is important partner with the office of management and budget in all of these areas, but especially in ensuring that our government achieves better result for less tax
in fiscal year 1993 he deficit was $255 billion. congressional budget office now projects the deficit for this country to be $845 billion. that will be the first time in five years that the deficit actually dipped below $1 trillion. in 1993 debt as a percentage of gross domestic product was 49%. today it's approaching 76%. the grand budget compromise that i believe we need to address this fiscal crisis must have, i think, three essential elements. it must address both spending and revenues in a...
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272
Jul 11, 2013
07/13
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if you want to reduce the deficit, investing in education. thank you very much. >> the house today approved a farm bill by a vote bill2126- 216-208. opposed theucus farm bill and launched a protest. here is that debate. >> further embellishments will result in a deduction of time from the yielding member. ther. speaker, i yield to gentleman from florida, mr. hastings for unanimous consent. >> i ask unanimous consent to revise and extend my remarks in very strong opposition to the farm bill and underlying bill because it takes the safety net away from american families. >> without objection, the time is charged. >> i yield to the gentleman from new york. >> thank you. i ask unanimous consent to revise and extend my remarks in strong opposition to the farm bill rolen the airline bill because it hurts america's children. correct -- rule and the underlying bill because it >> mr. speaker, and ask unanimous consent to revise my remarks. >> without objection. >> the gentleman from massachusetts. >> i yield to the gentlewoman from florida. >> i ask u
if you want to reduce the deficit, investing in education. thank you very much. >> the house today approved a farm bill by a vote bill2126- 216-208. opposed theucus farm bill and launched a protest. here is that debate. >> further embellishments will result in a deduction of time from the yielding member. ther. speaker, i yield to gentleman from florida, mr. hastings for unanimous consent. >> i ask unanimous consent to revise and extend my remarks in very strong opposition to...
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Feb 19, 2013
02/13
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while a plan to reduce our deficit has to be part of the agenda, but deficit reduction alone is not an economic plan. we learned in the 1990 costs when bill clinton was president that nothing shrieks of deficit faster than a growing economy that creates good, middle-class jobs. that should be the focus, they can america a magnet for good jobs and equipping our people with the skills required to fill those jobs and that their hard work leads to a decent living. those are the things we should push ourselves to think about every day. that is what the american people expect. that is what i will work on every single day to help deliver. i need everybody who is watching today to understand we have a few days. congress could do the right thing. we could avert just one more washington-manufactured pop him that slows our recovery -- manufactured problem that slows our recovery and that would do right by first responders, america's middle class, and what i will be working and fighting for over the next few weeks and years. thank you very much, everybody. thank you for your service. [applause] [a
while a plan to reduce our deficit has to be part of the agenda, but deficit reduction alone is not an economic plan. we learned in the 1990 costs when bill clinton was president that nothing shrieks of deficit faster than a growing economy that creates good, middle-class jobs. that should be the focus, they can america a magnet for good jobs and equipping our people with the skills required to fill those jobs and that their hard work leads to a decent living. those are the things we should...